An additional 15% surcharge will be slapped on individuals who fail to pay their property tax to Indore Municipal Corporation (IMC) before January 1, 2015.

indoreUpdated: Dec 29, 2014 16:38 IST

HT Correspondent Hindustan Times

An additional 15% surcharge will be slapped on individuals who fail to pay their property tax to Indore Municipal Corporation (IMC) before January 1, 2015.

In this financial year (2014-15), IMC is targeting to collect Rs 300 crore from taxation.

With only last quarter of the financial year remaining, so far the civic body has managed to recover only about Rs 150 crore, leaving it half-way behind its target.

Out of Rs 150 crore, Rs 95 crore has been collected under property tax and about Rs 33 crore came from tax on water, the officials in the civic body told Hindustan Times.

On Saturday, IMC managed to collect Rs 1.58 crore from property tax.

"We are expecting to collect Rs 20 crore from property tax in next three days," said Abhay Rajangoakar, the secretary of Indore Municpal Corporation. The secretary had advised people to pay property tax before December 31 to evade additional surcharge.

The civic body had targeted to collect Rs 300 crore revenue in the previous financial year too; however, it fell short of its target and was able to collect only Rs 245 crore from taxation.

The city mayor Krishn-amurari Moghe had instructed the bill collectors to speed up the process and keep a tab on big tax payers of Indore. According to Indore Municipal Corporation, the city has around 4 lakh registered property tax payers.